LONDON — SKP Beijing was the biggest and most productive retailer in China in 2019 with 15.3 billion renminbi in revenue, or $2.19 billion at current exchange, according to a ranking released Wednesday by China’s business media Linkshop and Commercial Real Estate and Retail Journal.
It’s newly opened SKP-S, located opposite to SKP Beijing in the central business district, is pushing the boundary of experiential retail in China. Shoppers queue for hours to shop limited drops from big brands and to point their smartphones at robotic sheep, kinetic penguins and a Mars-themed café, among installations created in collaboration with South Korean eyewear brand Gentle Monster.
SKP was also named the world’s second-most productive department stores after Harrods last year, according to a report by GlobalData and the architecture firm Sybarite.
Three other Chinese retailers surpassed the 10 billion renminbi sales mark in 2019. They are Deji Plaza in Nanjing with 12.2 billion renminbi, China World Mall in Beijing with 11.7 billion renminbi and Hangzhou Tower, with 10.5 billion renminbi, a 22 percent jump from 2018.
Some 17 retailers reached the 500 million renminbi threshold. They are Golden Resources Mall in Beijing, Global Harbor, Plaza 66, Wujiaochang Wanda Plaza in Shanghai, The Mixc in Shenzhen, Wulin Yintai, Hubin Yintai in Hangzhou, Sino-Ocean Taikoo Li and IFS in Chengdu, Seg International in Xi’an, David Plaza in Zhengzhou, The Mixc in Shenyang, Zhongyang Shopping Mall in Nanjing, and the four mentioned above.
The best-performing outlet mall is Outlets Parking Lot in the suburb of Shanghai, with 496 million renminbi in sales.
The ranking covers 213 shopping malls in 20 cities in mainland China, which represents 448.2 billion renminbi, or $64.2 billion worth of retail sales.
Since it is based on publicly disclosed data, those who haven’t shared their 2019 sales figures, such as Guangzhou’s biggest retailer Grandview Mall, which generated 780 million renminbi in 2018, were not included in the ranking.